How to Change a Payment Method

To enable seamless transactions, sending funds, and withdrawing your earnings, you'll need to link a bank account as a Payment Method to your LiquidTrust account. This process is designed to be secure and compliant with global banking regulations.

Our process requires you to enter specific banking details and upload Proof of Bank Account Ownership (e.g., a voided check or bank statement) to confirm the account belongs to your verified business or legal entity.

If you live in a country where we can make payments in your local currency and you want to send both FX and USD (or EUR, in some cases) to the same account, you'll need to create a new Payment Method entry for each currency.

Step-by-Step Instructions: Managing Payment Methods

You can manage your existing accounts and set a new default payout account in Settings.

1. View and Change Your Default

1. Navigate to Settings → Payment Methods (accessed via the gear icon in the site navigation). This screen shows all your current Payment Methods and your current default.
2. To switch your default payout account, locate the bank account you want to use and click the "Make Default" button.

2. Add a New Bank Account

If you want to add a new bank account or currency, follow these steps. Note: Adding a new bank account will require re-verification.

1. On the Payment Methods screen, click the + New Payment Method button.

   Select your Bank Location and Currency.

   Choose your account type: Checking or Savings.

   Enter the required banking details:

   • For U.S. banks: Enter the 9-digit ABA Routing Number (for domestic ACH transfers). The bank name and branch address should auto-populate.
   • For non-U.S. banks: Enter the 8 or 11-character SWIFT code. The bank name and branch address should auto-populate.
   • Enter your Bank Account Number (or IBAN) and the Account Holder Name.
   • Requirement: The Account Holder Name must be an exact match for your business name. If your business name is also your personal name, use your full name (no initials).
2. Click Save.

3. Submit Proof of Ownership

Once you have saved your new bank account, you must upload proof of ownership for verification:

1. Go to Settings → Documents → Payment Methods tab.
2. Find the bank account you just added (it will be identified by the last four digits).
3. Upload your proof of account. We will review the information you provide and may send you a separate verification link to request proof of identity.

4. Delete a Payment Method

1. To delete a Payment Method, click the trash can icon next to the account you wish to remove.

   You will be asked to confirm your choice before the account is deleted.

   • Note: You cannot delete your default payment method. If you want to delete your current default, you must first set another approved bank account as your new default.

Why This Matters

Managing your Payment Methods is key to efficient cash flow. By quickly switching your default account, you control exactly where Withdrawals are sent. The verification process for new accounts protects your funds by ensuring that transfers are only made to bank accounts owned by your verified business entity.

Tips, Notes, or Warnings

• Verification Time: New account information undergoes a manual verification process, typically completed within 1–2 business days. Our Support Team may contact you if clarification is needed.
• Proof of Ownership: You may provide a copy of an account statement, a voided check, or a Proof of Ownership document as provided by your bank. For further details, please check out our article on How to Provide Proof of Bank Account Ownership.
• Your bank account's Account Holder Name must be your name. We are unable to verify accounts with the name of a relative, friend, or business partner unconnected to your current business.